We don't need to advertise in the yellow pages if we want to work primarily for contractors or we just want to keep 1 or 2 trucks going doing service for old customers and referals. But I want to continue to grow, so we're in it this year. That said, we haven't been in it for about the past 5 years, so yes a reputable EC can do OK without yellow pages.
At the end of the day Rudy, All media outlets have a bias of one form or another, that is what keeps them selling papers, keeps people watching or keeps people listening. Humans like bias, apart from when it goes against what they think. As for the Yellow Pages argument, try and tell all of the people that advertise in it that they are crooks!. The Yellow Pages aren't that thick because of filler material, it's all people trying to make a living.